Conor Lyden
Founder & CEO, Trustap
Online payment safety is at the core of this Irish transaction platform. With marketplace partnerships like DoneDeal, they’re significantly expanding the reach of their safe, reliable transactions.
Transaction security isn’t a new concern, and there’s still hesitation around online transactions driven by a perceived lack of trust. “Many people feel uncomfortable sending money online,” explains Conor Lyden, Founder & CEO of Trustap. “Unfortunately, for time-sensitive transactions, people can be more willing to take the risk, leading to some being scammed.”
End-to-end transaction service
Founded in 2017, Trustap was inspired by Lyden’s experience of buying resale football tickets from strangers online. “We’ve created a solution that completely removes distrust,” explains Lyden. Trustap is a simple, safe and scam-proof transaction platform that combines the concept of escrow with an everyday transactional flow.
“Not only do we hold the funds in an escrow style hold until both parties are satisfied, but we manage transactions from start to finish, including fraud prevention and dispute management, replacing the need for multiple transaction plug-ins or tools, reducing overall transaction cost”, continues Lyden. “This provides a better experience for everyone, from the e-commerce store or marketplace to the end customers.”
but we manage transactions from start to finish, including fraud prevention and dispute management
DoneDeal Partnership and AI
What started as a standalone app for individual transactions is now a global solution, with partnerships across e-commerce, online marketplaces and other platforms looking to make secure transactions more accessible.
“We’ve recently gone into partnership with DoneDeal, facilitating vehicle reservations on their website,” explains Lyden.
To become the standard for secure online transactions, the company is building solutions to meet the needs of marketplaces and e-commerce stores. Founded in Ireland (headquartered in Cork), they now have offices in Dublin, Barcelona, Croatia and New York, servicing over 150 countries. “We want to partner with as many marketplaces as possible to ensure users can transact safely and efficiently.”
AI is another development in transaction security, with the increasing popularity of AI chatbots. Buyer journeys have changed, with people choosing LLMs for product searches instead of browsing online stores. “It won’t be long before there are full agent-to-agent transactions, and we’re working on making sure we’re well placed to ensure they can happen safely and efficiently too.”
